NOT LISTED FOR SALE

550 Ocean Cay Dr Key Largo, FL 33037

Key Largo Area

Estimated Value: $5,456,000 - $7,079,787

4 Beds
4.5 Baths
5,422 Sq Ft
$1,207/Sq Ft Est. Value

Sale Details

Date Sold: March 19, 2021

Last sale price $4,500,000 $830 Per Sq Ft

Est. 45% increase in value since last sale

Current estimated payment $39,007 / mo

27 Days on Market

Highlights

  • Ocean Front
  • Dock made with concrete
  • Concrete Pool
  • Coral Shores High School Rated A
  • Home Theater
  • 1-minute walk to Jacobs Community Park

About This Home

As of March 2021

Oceanfront Elegance on the Cay! Ocean Cay is a premier gated community, an enclave of oceanfront homes sought after for their protected deep-water dockage. Upon entering the commanding residence, soaring ceilings and the open design only serve to enhance the ocean vistas. Four large bedrooms, four and a half baths and a beautifully Bali-themed secondary living area. Expansive home theatre/media room plus a temperature-controlled wine room to delight any wine connoisseur. The chef's kitchen includes stainless steel appliances, central island and sit-up counter, all with the utmost in finishes and ideally located adjacent to the formal dining area and Great Room. The unique wrought-iron staircase to the main level leads to the main bedroom with walk-in closet, which captures sweeping ocean

Last Agent to Sell the Property

Joy Martin

American Caribbean Real Estate, Christie's International Real Estate License #0524075 Listed on: 01/05/2021

Last Buyer's Agent

Silvestri Team Jeanette & Janessa Silves

Coldwell Banker Schmitt Key Largo License #3258182

Coldwell Banker Schmitt Key Largo

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $15,262

Year Built

  • Built in 2005

Lot Details

  • 12,120 Sq Ft Lot
  • Ocean Front
  • Home fronts a canal
  • Privacy Fence
  • Fenced
  • Property is zoned IS - Improved Subivision District

HOA Fees

  • $83 Monthly HOA Fees

Property Views

  • Ocean
  • Canal

Home Design

  • Metal Roof

Interior Spaces

  • 5,422 Sq Ft Home
  • 3-Story Property
  • Wet Bar
  • Bar
  • Cathedral Ceiling
  • Ceiling Fan
  • Blinds
  • Sliding Doors
  • Entrance Foyer
  • Home Theater
  • Storage

Kitchen

  • Range
  • Microwave
  • Dishwasher
  • Wine Cooler
  • Stainless Steel Appliances
  • Granite Countertops
  • Built-In or Custom Kitchen Cabinets
  • Disposal

Flooring

  • Marble
  • Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Walk-In Closet

Laundry

  • Laundry Room
  • Dryer
  • Washer

Home Security

  • Home Security System
  • Impact Glass

Parking

  • Garage
  • Electric Gate
  • Open Parking

Pool

  • Concrete Pool
  • In Ground Pool

Outdoor Features

  • Davits
  • Dock made with concrete
  • Balcony
  • Patio
  • Outdoor Water Feature
  • Exterior Lighting
  • Outdoor Storage

Utilities

  • Central Air
  • Propane
  • Public Hookup Available For Sewer

Community Details

  • Association fees include common area mnt
  • Port Largo Subdivision
  • Rental Restrictions

Listing and Financial Details

  • Minimum Rental Period: 28
  • Assessor Parcel Number 00453475-016600

Home Details

Home Type

Single Family

Est. Annual Taxes

$15,262

Year Built

Built in 2005

Lot Details

0.28 Acres

HOA Fees

$83 per month

Listing Details

  • Property Type: Residential
  • Style: Single Family
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Association Fee: 1000.00
  • Mandatory HOA: Yes
  • Dockage Dock: Concrete
  • Fee Includes: Common Area Mnt
  • Financial Status Bank Owned: No
  • Financial Status Potential Short Sale: No
  • Key Island: Key Largo
  • Limited Representation: No
  • Marathon Neighborhood: N/A
  • Mile Marker: 100.00
  • Min Rental Days: 28.00
  • M L S Identifier: 20060123165453488875000000
  • Pets: Pets Allowed
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Cash
  • Side: Ocean
  • State Province: FL
  • Taxes: 15262.01
  • Vehicle Storage: Attached, Open Parking, Garage, Covered Parking
  • Year Built: 2005
  • Alternate Key Number: 1556751
  • Cooling Heating: Ceiling Fans(s), Central Air
  • Lot Sq Ft: 12120.00
  • Pool Info: Concrete, In Ground
  • Porch Balcony: Open Porch/Balcony, Patio
  • Association Maintenance Fee Per: Yearly
  • Tax Exemptions: None
  • Building Style Above Flood: No
  • Building Style Stories: 3 Stories
  • Estimated Living Sq Ft: 5422.00
  • Sewer Hook Up: Yes
  • Statistical Purposes Only: No
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 3

Interior Features

  • Interior Amenities: Bar, Security System, Wet Bar, Walk-in Closet(s), Storage, Pantry, Granite Counter Top, Cathedral Ceilings, Entrance Foyer, Drapes/Blinds Incl, Built-in Cabinets
  • Total Bathrooms: 5.00
  • Full Bathrooms: 4
  • Appliances: Dishwasher, Wine Cooler, Washer, Range, Stainless Steel Appliance(s), Refrigerator, Microwave, Gas Appliances, Dryer, Disposal
  • Floor: Marble, Tile
  • Half Bathrooms: 1
  • Specialty Rooms: Laundry Room, Theater Room, Media Room
  • Windows/Doors: Glass Doors, Impact Rstnce Window, Impact Rstnce Doors
  • Appliances Other: Wine Room
  • Total Bedrooms: 4

Exterior Features

  • Dockage: Davits
  • Waterfront: Canal Front, Oceanfront
  • Waterfront: Yes
  • Construction: CBS
  • Exterior Features: Bar, Water Display, Storage, Privacy Wall/Fence, Lighting, Fencing
  • Roof: Metal Roof
  • Waterview: Canal View, Ocean View, Open Water View
  • Pool: Yes

Utilities

  • Security: Electric Gate
  • Utilities: Buyer to Verify, Propane, Municipal Sewer, FKAA

Lot Info

  • Deed Restrictions: Unknown
  • Flood Zone: VE,VE
  • Parcel Number: 00453475-016600
  • Land Size: 1/4 - 1/2 Acre
  • Acres: 0.28

Rental Info

  • Rentals Allowed: With Restrictions
  • Furnished: Unfurnished

Tax Info

  • Tax Year: 2020

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 5, 2021
Closed on
Mar 19, 2021
Sold by
Bought by
Seller's Agent
Joy Martin
American Caribbean Real Estate, Christie's International Real Estate
Buyer's Agent
Silvestri Team Jeanette & Janessa Silves
Coldwell Banker Schmitt Key Largo
List Price
$4,900,000
Sold Price
$4,500,000
Premium/Discount to List
-$400,000
-8.16%
Current Estimated Value
$6,543,447

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,043,447
Avg. Annual Appreciation
7.25%
Original Mortgage
$3,150,000
Interest Rate
0.027%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 15, 2003
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
0.0375%
Mortgage Type
Unknown

Purchase Details

Closed on
Feb 14, 2001
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
0.0702%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 1, 1988
Bought by

Purchase Details

Closed on
Sep 1, 1982
Bought by
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$4,500,000 Attorney
$850,000 --
-- --
-- --
-- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $3,150,000
Previous Owner $500,000
Previous Owner $250,000
Previous Owner $150,000
Previous Owner $250,000
Previous Owner $1,711,000
Previous Owner $1,000,000
Previous Owner $500,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
03/19/2021 03/19/21 Sold $4,500,000 -8.2% $830 / Sq Ft
02/01/2021 02/01/21 Pending -- -- --
01/05/2021 01/05/21 For Sale $4,900,000 -- $904 / Sq Ft
Source: Florida Keys Board of REALTORS®

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $39,252 $4,444,427 $2,702,910 $1,741,517
2024 $37,362 $4,887,296 $2,551,402 $2,335,894
2023 $37,362 $4,626,953 $2,363,542 $2,263,411
2022 $33,334 $4,273,415 $1,999,942 $2,273,473
2021 $15,975 $1,934,668 $0 $0
2020 $15,863 $1,907,957 $0 $0
2019 $15,536 $1,865,061 $0 $0
2018 $15,551 $1,830,286 $0 $0
2017 $15,212 $1,792,641 $0 $0
2016 $15,443 $1,755,770 $0 $0
2015 $15,588 $1,743,565 $0 $0
2014 $15,891 $1,729,727 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Joy Martin

    Seller's Agent in 2021

    Joy Martin

    American Caribbean Real Estate, Christie's International Real Estate

    (305) 394-7866

    82 Total Sales

    Joy Martin
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Map

Source: Florida Keys Board of REALTORS®

MLS Number: 593996

Florida Keys Board of REALTORS®

APN: 00453475-016600

Florida Monroe County Key Largo 33037

550 Ocean Cay Dr, Key Largo, FL

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Florida Keys Board of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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